Correlation Analysis Between Aurora Mobile and SPTSX Comp

This module allows you to analyze existing cross correlation between Aurora Mobile Limited and SPTSX Comp. You can compare the effects of market volatilities on Aurora Mobile and SPTSX Comp and check how they will diversify away market risk if combined in the same portfolio for a given time horizon. You can also utilize pair trading strategies of matching a long position in Aurora Mobile with a short position of SPTSX Comp. See also your portfolio center. Please also check ongoing floating volatility patterns of Aurora Mobile and SPTSX Comp.
Horizon     30 Days    Login   to change
Symbolsvs
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Comparative Performance

 Predicted Return Density 
      Returns 

Aurora Mobile Limited  vs.  SPTSX Comp

 Performance (%) 
      Timeline 

Pair Volatility

Allowing for the 30-days total investment horizon, Aurora Mobile Limited is expected to under-perform the SPTSX Comp. In addition to that, Aurora Mobile is 7.39 times more volatile than SPTSX Comp. It trades about -0.16 of its total potential returns per unit of risk. SPTSX Comp is currently generating about 0.04 per unit of volatility. If you would invest  1,652,540  in SPTSX Comp on August 20, 2019 and sell it today you would earn a total of  22,591  from holding SPTSX Comp or generate 1.37% return on investment over 30 days.

Pair Corralation between Aurora Mobile and SPTSX Comp

0.01
Time Period3 Months [change]
DirectionPositive 
StrengthInsignificant
Accuracy98.41%
ValuesDaily Returns

Diversification Opportunities for Aurora Mobile and SPTSX Comp

Aurora Mobile Limited diversification synergy

Significant diversification

Overlapping area represents the amount of risk that can be diversified away by holding Aurora Mobile Limited and SPTSX Comp in the same portfolio assuming nothing else is changed. The correlation between historical prices or returns on SPTSX Comp and Aurora Mobile is a relative statistical measure of the degree to which these equity instruments tend to move together. The correlation coefficient measures the extent to which returns on Aurora Mobile Limited are associated (or correlated) with SPTSX Comp. Values of the correlation coefficient range from -1 to +1, where. The correlation of zero (0) is possible when the price movement of SPTSX Comp has no effect on the direction of Aurora Mobile i.e. Aurora Mobile and SPTSX Comp go up and down completely randomly.
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See also your portfolio center. Please also try Volatility Analysis module to get historical volatility and risk analysis based on latest market data.


 
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